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Show The Enterprise Review , July 28, 1976 Page 4b speedl Future of Utah Highways Clouded with Uncertainties (aiircdl ireDndbnllnfty, seiradl 3ft tf gfterjcsjpft Continued from page lb Federal apportionment for fiscal 1977 is $63.0 million. Revenues going into Title Insurance and Escrows Stewart Title Guaranty Company of Houston, Underwriters Harlan Y. Hammond, President Virginia Godfrey, Closing Officer 330 Broadway Plaza 250 East Third South Salt Lake City, Utah 841 1 1 Telephone 355-478- 3 3 Utah's Highway Fund have been slowed by the increase in the price of petroleum, which has reduced motor fuel consumption. Very recently a reversal in the trend has been noted, producing additional highway revenues. However, highway officials are viewing this with caution, noting that another increase in the price of foreign oil could come at that such a any time, and ' development might quickly reduce the consumption of motor fuel as it did in 1974. Another factor which reduces the amount of money available for highway construction and maintenance is money appropriated from the Highway Fund to purposes, such as contributions to the general government overhead, appropriations to the Tax Commission to cover costs of handling the Motor Fuels Tax, appropriations to the Highway Patrol and other units of the Public Safety Department, and others. Highway Fund money also goes to the B and C and collector road funds; these local road programs complement and are essential to the state highway system, but money thus used is taken from the state program itself. These appropriations are increasing much faster than the money available for the state Such highway program. appropriations are not challenged on legal grounds, but they do reduce the amount of money available for state highway construction and maintenance. Looking at Utah's pres-- , highway program and assessing the uncertainties of the future, Utah non-high-w- ay ently-adequa- te rSTICK OUR KNOWS YOUR Foundation number alternative courses of action are open to the state. These include: Continuing the present course, supplementing Highway Fund revenues with We know how to get your sales prospects every week for new profitable leads. Try the newspaper that knows your needs. 952 West 1 500 South Salt Lake City, Utah 84108 Telephone 484-449- 5 FREE SAMPLE ORDER INTERMOUNTAIN COMMERCIAL RECORD I 1952 West 1500 South Salt Lake City, Utah 84104 I Phone: 484-449- 5 I Gentlemen: Please send a sample copy of the INTERMOUNTAIN COMMERCIAL RECORD. Firm Name I Your Name .Title Address City Date. .State. -- Zip Phone ER75 long-rang- cents-per-gal-l- non-highw- on ay At the present time, Utah is one of 13 states imposing a tax of 7 cents a gallon. Only three states impose lower Ten states gasoline taxes. 8 levy a tax of cents a gallon, and 13 states impose a tax of 9 cents. Two states and the District of Columbia charge 10 cents a gallon and Hawaii imposes a tax ranging from 11.5 to 13.5 cents a gallon. A number of states charge fractional amounts between 7 and .9 cents a gallon. Walker Gets Tooele Branch 1 I notes that a transfers from the General Fund, as needed. This would e make planning difficult, as the intentions of future legislatures could not be anticipated. Changing the motor fuels tax from a to a percentage of total sale price. This would tend to counter the effects of future inflation. If the change were calculated on the basis of a rate higher than the present Utah highway officials feel it might meet present and future needs Discontinuing appropriations from the Highway Fund to pursuch and apmaking poses from General the propriations Fund. Increasing the present motor fuels tax by an amount to be decided. Highway officials have indicated the need for an additional 3 cents a gallon if the existing backlog is to be erased and the program carried forward on a basis to meet present and future needs. Finally Four years after applying for a branch bank in Tooele, Utah, Walker Bank and Trusts application has been approved. According to Mirvin Borthick, president, Walker expects to locate its branch in the downtown shopping center near We see nothing but big things for Tooele Albertsons. county, he said, and since Tooele is the county seat, we wanted a branch there. He said two years ago Walker reapplied for a branch in Tooele, but the developments we foresaw then didnt take Now, he added, two large corporations are place. considering locating in the Tooele area. Two other banks, First Security and Commercial Security, have branches in the community. Borthick said if Walker constructs its branch, it will be about 3500 square feet and have three drive-i- n windows. Proponents Cite Provo Growth Citing growth in population, employment, income, retail sales and construction activity, seven men have applied for permission to establish a new unit state bank in Provo, Utah at 1600 North 200 West. Principals of the proposed bank, John K.M. Olsen, Joseph F. Ollivier, H. Mark Magleby, Calvin C. Magleby, Howard W. Barnes, Douglas W. Morrison and Norman Larry Agle want to name it the Village Green State Bank. In their application they stated the unemployment rate in Utah county during the first six months of 1976 was lower than in the state and the nation, where in 1975 it was higher than both state and national rates. They cited about a 50 percent increase in economic growth in the county over the last five years. |